Along with the financial burden, homeowners spend an average of 6.9 hours weekly on repairs and maintenance – totaling more than 1 year and 83 days over a 30-year mortgage.
The typical American homeowner now spends an average of $24,529 annually, or $2,044 monthly, on home expenses in addition to their mortgage – up from $17,958 in 2024, according to new researchfrom Real Estate Witch, an online publication owned by Clever Real Estate that connects readers with expert real estate advice.
Over the course of a 30-year mortgage, this adds up to a staggering $735,870 on top of the mortgage's total cost. That's nearly as much as the typical household spends on the mortgage itself ($26,508 annually) and amounts to a $547 monthly increase from 2024.
The breakdown of these costs is:
— Utilities: $7,319
— Maintenance: $6,087
— Renovations: $5,762
— Property taxes: $3,057
— Homeowners insurance: $2,304
Compounding the issue, more than half of homeowners (51%) are stressed by rising home insurance costs and 13% worry they could lose insurance on their property – while 46% don't feel their property taxes accurately reflect their home's value.
Additionally, those in homeowners associations (HOAs) pay an extra $3,077 in annual HOA fees, bringing their total to $27,606 per year.
4 in 5 homeowners' (81%) expenses are higher than anticipated, and over two-thirds (69%) have regrets about their home and its associated costs.
Nearly half of homeowners (46%) say they didn't accurately estimate the cost of repairs and improvements before buying.
However, 46% also admit they don't actively budget for unexpected repairs – and a majority (59%) couldn't afford a $5,000 emergency repair without going into credit card debt.
In retrospect, 81% of homeowners would prefer a more expensive home with lower maintenance costs, and 48% would have approached the buying process differently if they knew the true cost of homeownership.
Some homeowners wonder if the cost of homeownership is worth it: 44% say it's easier to rent, and about 1 in 7 (15%) have even considered returning to renting.
Read the full report at: https://www.realestatewitch.com/cost-of-owning-a-home-2025
About Real Estate WitchReal Estate Witchis a web property of Clever Real Estate, an online platform that connects home buyers and sellers with top-rated agents at a discounted rate.
Clever Real Estate is a technology company that produces educational real estate content reaching over 10 million readers annually, and its nationwide agent matching service has a 5.0-star Trustpilot rating across 3,300+ customer reviews. Since launching in 2017, Clever has reached $12.1 billion in real estate sold, matched 147,000+ customers with realtors, and saved consumers over $180 million on commission fees. Clever's network spans 15,000 agents across all 50 states.
Please contact Alyssa Evans at 389545@email4pr.com with any questions or to arrange an interview.
CONTACT:Alyssa EvansClever Real Estate389545@email4pr.com315-690-1518
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SOURCE Real Estate Witch
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